Vietnamese officials have given the green light to Hung Nghiep Formosa#;s (HNF) ambitious plans to build a polyester fibres plant at the Nhon Trach Industrial Zone in Dong Nai Province.

The company intends to invest $241 million in the factory, including $85m on a power plant, which will have a combined capacity of 300-400 tonnes a day of polyester staple fibre and filament yarn.